Ras Al Khaimah Economic Zone
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Ras Al Khaimah Economic Zone (RAKEZ) is an Emirati free-trade zone in Ras Al Khaimah in United Arab Emirates. In January 2020, Entrepreneur reported the free zone to have 14,000 companies across 50 industries.[1]
History
It was introduced in 2017[2] and is one of the 37 free zones across the United Arab Emirates that are overseen by the Ras Al Khaimah Investment Authority. During COVID-19 pandemic, RAKEZ moved towards digitisation and was reported to have 20% growth in 2020.[3]
The Free zone also launched a scheme to provide 12 years visa for investors purchasing an apartment in the zone in partnership with real estate developers Al Hamra.[4] RAKEZ allows a one hundred percent foreign ownership.[5]
References
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